Gold Demand Soars in England

Even though gold corrected in dollar terms, gold shot higher in terms of the British pound, which sank further after the surprise election results.  Gold in pound sterling rose by over 2% from £985 to £1,007.52 an ounce, a seven-week high, on Thursday evening (June 8) after the surprise election results came in.

The Declining Dollar is Helping Gold

Over the first weekend of June, gold surpassed $1,280 for the first time since April 21.  There is a great deal of gold buying due to terrorism in Europe, unrest in the Middle East, saber rattling in North Korea and increasing attacks on the Trump administration at home, which has reduced faith in the U.S. dollar.

Silver Supply/Demand Curve Begins to Turn in Silver’s Favor

Last week, the Silver Institute and the research team from GFMS at Thomson Reuters said that silver mine production declined in 2016 for the first time since 2002.  The gap between supply and demand also turned negative with 1,007.1 million ounces of supply and 1,027.8 million ounces of demand, creating a 20.7 million-ounce deficit, which puts upward pressure on silver prices.

Silver Supply/Demand Curve Begins to Turn in Silver’s Favor

Last week, the Silver Institute and the research team from GFMS at Thomson Reuters said that silver mine production declined in 2016 for the first time since 2002.  The gap between supply and demand also turned negative with 1,007.1 million ounces of supply and 1,027.8 million ounces of demand, creating a 20.7 million-ounce deficit, which puts upward pressure on silver prices.

Silver Supply/Demand Curve Begins to Turn in Silver’s Favor

Last week, the Silver Institute and the research team from GFMS at Thomson Reuters said that silver mine production declined in 2016 for the first time since 2002.  The gap between supply and demand also turned negative with 1,007.1 million ounces of supply and 1,027.8 million ounces of demand, creating a 20.7 million-ounce deficit, which puts upward pressure on silver prices.

Soros and Paulson Missed the 2017 Gold Rush

In the middle of each quarter (May 15 for this quarter), hedge fund managers must report their holdings as of the close of last quarter (March 31 for the opening quarter) to the Securities & Exchange Commission (SEC).  During the first quarter this year, gold rose nearly 10%, from $1,150 to $1,263, but the two hedge fund managers who have the biggest historical reputation as “gold bugs” did not add to their holdings last quarter, according to their SEC filings.

Hedge Fund Managers Sell Gold at Low Prices (Again!)

The net-long (bullish) position among hedge fund managers is the lowest in seven weeks, after the biggest weekly sell-off since mid-2008, before the financial crisis.  The weekly Commitment of Traders report for the week ending May 9 showed that money managers lowered their speculative “long” (bullish) gold contracts by 22.4%, from 195,331 down to 151,419.

Long-term U.S. Interest Rates are FALLING, not Rising, Favoring Gold

We have shown how the mainstream media pundits are wrong about gold vs. short-term interest rates.

Long-term U.S. Interest Rates are FALLING, not Rising, Favoring Gold

We have shown how the mainstream media pundits are wrong about gold vs. short-term interest rates.

I Speak About Gold Investing at the NRA Convention

At the National Rifle Association’s national conference in Atlanta I visited briefly with Donald Trump, Jr., Sheriff David Clarke, Dana Loesch and Wayne LaPierre. With an attendance of over 81,000 people, it ranked second only to the 86,223 that attended the 2013 NRA Annual Meetings & Exhibits in Houston. President Trump spoke at the event, and was the first President since Reagan to do so.